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by fecak
4289 days ago
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I think you'll find your instincts on this one are a bit off. These days, companies seem to value some variety over stagnating at one company or on one project. Hiring managers like to see people with a variety of accomplishments, and that can be pretty easy to demonstrate if your contracting projects are interesting and give you the ability to see the task all the way through. When you are comparing money from contract to permanent, keep in mind there may be lots of hidden costs. I can't speak for the UK, but in the US contractors need to be thoughtful of taxes (and the cost of having your returns done if you can't do them yourself), health insurance, PTO (contractors are only paid for the hours they work), insurance, retirement/401k, etc. Be sure to do the math. |
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Really good point on the Math's side of the business. I am based in the UK, hence things like Health and Dental and very good and free, therefore no need for costly private insurance. Pensions, the same, although I would make arrangements myself to contribute to it privately also. Taxes and other deductions, I plan to hire a good accountant that can both ensure I have all my affairs in order as well as look after my financial interests. PTO/Instability is the only true financial downside I can see, however, for the latter (at least in UK) even if you are a contractor they need to give you 1-2weeks pay should they wish to terminate the contract early - which should keep me afloat while finding new work.
All that being said, I think the main difference between US and UK when it comes to permanent salaries is that the US has much higher base in average rates than when compared to the UK. Not to mention the buying power of that salary is order of magnitudes higher than over here. Therefore in a way, it seems more unlikely (if I were to be over there) to do contracting when balancing the pro's and con's of both options.
Thanks again for your words, and advice.